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Herbicides Market Size, Share and Industry Analysis, Report 2024-2032

Herbicides Industry

Summary:

• The global herbicides market size reached USD 33.0 Billion in 2023.
• The market is expected to reach USD 45.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
• Asia Pacific leads the market, accounting for the largest herbicides market share.
• Synthetic herbicides accounts for the majority of the market share in the type segment as they can kill weeds without harming crop health. 
• Selective herbicides hold the largest share in the herbicides industry.
• Grains and cereals remain a dominant segment in the market as herbicides are required to cultivate staple crops.
• The rising requirement for high crop yield is a primary driver of the herbicides market.
• The growing focus on sustainable agriculture is reshaping the herbicides market.

Industry Trends and Drivers:

• Growing demand for high crop yields:

The herbicides market is experiencing significant growth due to the increasing global demand for higher crop yields. With the global population rising and arable land becoming limited, farmers are under pressure to maximize output from available farmland. Herbicides play a crucial role in controlling weeds that compete with crops for nutrients, sunlight, and water, thus helping to enhance crop productivity. By reducing the burden of manual labor for weeding and allowing crops to thrive in weed-free environments, herbicides enable farmers to achieve better yields. This is particularly important in regions facing food security challenges, where optimizing agricultural productivity is essential. Additionally, advancements in herbicide formulations are enabling more targeted weed control, further supporting their widespread adoption in both large-scale industrial farming and smallholder agricultural practices.

• Rising adoption of GM crops:

The rising adoption of genetically modified (GM) crops is another key factor driving the herbicides market. Many GM crops are engineered to be resistant to certain herbicides, allowing farmers to apply these chemicals without harming the crop. This makes weed control more efficient and reduces the need for tilling, a process that can degrade soil quality over time. The use of herbicide-resistant crops encourages the application of selective herbicides, which target specific weed species while preserving the health of the crop. This has led to a significant increase in herbicide use in regions where GM crops are widely cultivated, such as North America and South America. The ability of GM crops to enhance herbicide tolerance has made herbicides an essential tool in modern agricultural practices, driving their demand.

• Growing awareness regarding sustainable agriculture:

The herbicides market is also driven by the growing focus on sustainable agriculture. There is increasing awareness among both farmers and consumers about the need for environmentally friendly farming practices that reduce chemical runoff and soil degradation. This has spurred the development and adoption of more eco-friendly herbicides, including organic and bio-based products. These herbicides aim to provide effective weed control while minimizing their impact on the environment. Governments and regulatory bodies are also promoting the use of sustainable agricultural inputs through incentives and policies, which is encouraging farmers to adopt more responsible herbicide use. The trend toward sustainability is expected to continue driving the market as more stakeholders in the agricultural sector prioritize eco-conscious solutions.

For an in-depth analysis, you can request a sample copy of the report: https://www.imarcgroup.com/herbicides-market/requestsample

Herbicides Market Report Segmentation:

Breakup By Type:

• Synthetic
  • Glyphosate
  • Atrazine
  • 2,4-Dichlorophenoxyacetic Acid
  • Acetochlor
  • Paraquat
  • Others
• Bio-Herbicides

Synthetic account for the majority of shares as they can kill weeds without harming the crops.

Breakup By Mode of Action:

• Selective Herbicides
• Non-Selective Herbicides

Selective herbicides dominate the market as they offer precision and crop safety. 

Breakup By Application:

• Grains and Cereals
• Pulses and Oilseeds
• Commercial Crops
• Fruits and Vegetables
• Turf and Ornamentals

Grains and cereals exhibit a clear dominance due to the global necessity to maximize crop yields. 

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific holds the leading position owing to a large market for herbicides driven by expanding agriculture industry and rising food demand.

Top Herbicides Market Leaders:

• BASF SE
• Bayer AG
• Corteva Inc.
• Drexel Chemical Co. Inc.
• FMC Corporation
• Heranba Industries Ltd.
• Nissan Chemical Corporation
• Nufarm
• Sumitomo Chemical Co. Ltd.
• Syngenta Group
• UPL Limited
• Wilbur-Ellis Company LLC

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

by Ryan Stark on 2024-10-09 05:41:07